Earnest Partners LLC Cuts Stock Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

Earnest Partners LLC reduced its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE - Free Report) by 0.7% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 773,560 shares of the financial services provider's stock after selling 5,416 shares during the period. Earnest Partners LLC owned approximately 0.13% of Intercontinental Exchange worth $105,893,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of ICE. Employees Retirement System of Texas boosted its position in shares of Intercontinental Exchange by 34.5% during the second quarter. Employees Retirement System of Texas now owns 456,100 shares of the financial services provider's stock worth $62,436,000 after buying an additional 117,100 shares during the period. AXA S.A. raised its position in Intercontinental Exchange by 5.9% during the second quarter. AXA S.A. now owns 627,667 shares of the financial services provider's stock worth $85,921,000 after acquiring an additional 34,927 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Intercontinental Exchange in the 2nd quarter valued at about $793,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in shares of Intercontinental Exchange by 60.0% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 109,681 shares of the financial services provider's stock worth $15,014,000 after purchasing an additional 41,129 shares during the last quarter. Finally, Marshall Wace LLP raised its holdings in shares of Intercontinental Exchange by 14.8% in the 2nd quarter. Marshall Wace LLP now owns 2,117,501 shares of the financial services provider's stock valued at $289,865,000 after purchasing an additional 273,003 shares during the period. Institutional investors own 89.30% of the company's stock.

Wall Street Analyst Weigh In

ICE has been the topic of several research analyst reports. Citigroup upped their price objective on Intercontinental Exchange from $160.00 to $162.00 and gave the company a "buy" rating in a research note on Tuesday, July 9th. Keefe, Bruyette & Woods reiterated an "outperform" rating and issued a $168.00 price objective on shares of Intercontinental Exchange in a report on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Intercontinental Exchange from $152.00 to $154.00 and gave the stock a "hold" rating in a research note on Thursday, August 15th. Barclays boosted their price objective on Intercontinental Exchange from $159.00 to $167.00 and gave the stock an "overweight" rating in a report on Friday, August 2nd. Finally, TD Cowen started coverage on Intercontinental Exchange in a report on Thursday. They set a "buy" rating and a $182.00 target price for the company. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Intercontinental Exchange currently has an average rating of "Moderate Buy" and an average price target of $159.79.

Insider Buying and Selling

In other news, CTO Mayur Kapani sold 395 shares of the firm's stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $141.13, for a total transaction of $55,746.35. Following the completion of the transaction, the chief technology officer now directly owns 64,471 shares in the company, valued at $9,098,792.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Intercontinental Exchange news, CEO Jeffrey C. Sprecher sold 58,389 shares of the stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $141.68, for a total value of $8,272,553.52. Following the transaction, the chief executive officer now owns 1,179,993 shares in the company, valued at $167,181,408.24. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CTO Mayur Kapani sold 395 shares of the company's stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $141.13, for a total value of $55,746.35. Following the transaction, the chief technology officer now directly owns 64,471 shares in the company, valued at $9,098,792.23. The disclosure for this sale can be found here. Insiders sold a total of 66,268 shares of company stock valued at $9,508,809 in the last three months. Insiders own 1.10% of the company's stock.

Intercontinental Exchange Price Performance

NYSE:ICE traded down $1.33 on Thursday, hitting $158.12. The company had a trading volume of 2,844,578 shares, compared to its average volume of 2,495,343. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.69. Intercontinental Exchange, Inc. has a 52 week low of $104.49 and a 52 week high of $163.71. The stock has a market capitalization of $90.78 billion, a price-to-earnings ratio of 36.42, a PEG ratio of 2.81 and a beta of 1.08. The firm has a 50 day moving average of $156.46 and a two-hundred day moving average of $143.20.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last announced its quarterly earnings results on Thursday, August 1st. The financial services provider reported $1.52 EPS for the quarter, beating analysts' consensus estimates of $1.49 by $0.03. Intercontinental Exchange had a return on equity of 12.70% and a net margin of 21.43%. The firm had revenue of $2.32 billion for the quarter, compared to analyst estimates of $2.31 billion. During the same period last year, the firm posted $1.43 earnings per share. The business's revenue for the quarter was up 22.7% on a year-over-year basis. On average, research analysts anticipate that Intercontinental Exchange, Inc. will post 6.04 earnings per share for the current year.

Intercontinental Exchange Profile

Intercontinental Exchange, Inc, together with its subsidiaries, engages in the provision of market infrastructure, data services, and technology solutions for financial institutions, corporations, and government entities in the United States, the United Kingdom, the European Union, Singapore, India, Abu Dhabi, Israel, and Canada.